The difficulty of mining bitcoin felt after halving

Difficulty Bitcoin Mining fell 5.43%. This is the largest decline over the past year and a half. It happened three weeks after bitcoin halving.

A sudden drop in the complexity of mining bitcoin from 213.5 to 201.9 billion occurred on August 2, and remained almost unnoticed, because the same day Bitfinex, the third most popular Exchange was suspended after a hacker attack. The news of the theft of 120 thousand bitcoins have led to a rapid fall cryptocurrency course. But the fall of the complexity of mining, most likely has nothing to do with the attack on Bitfinex, since it is the result of mining bitcoins within two weeks.

From 27 January 2015, when the complexity has fallen to 6.14%, reducing complexity has never been so important. On the whole year and a half that followed that date, it has grown almost five times, from 41.2 to 213.4 billion. But recently the situation has changed, as shown by two changes in the complexity of mining bitcoin that occurred after July 9, when the reward for mining bitcoins halved. First, the complexity grew by a modest 0.04%, and then fell to 5.43%. Perhaps these changes indicate that many miners out of business, overnight became unprofitable.

The previous two to reduce the complexity of mining bitcoin, in March and June 2016, respectively, were due to the crisis and expectations of scaling bitcoin bitcoin halving that caused the bankruptcy of cryptocurrency firms as KnCMiner.